CHANDIGARH: The Gurugram zonal office of the Directorate of Enforcement (ED) on Tuesday claimed to have provisionally attached nine residential flats, worth over Rs 3.14 crore, belonging to M/s Bansal Poles Pvt Ltd and Kailash Gupta, situated at Omaxe Executive Homez, Omaxe City, Bahadurgarh, in Haryana’s Jhajjar district.
These properties were attached on Jan 27 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, with regard to an alleged bank fraud case involving M/s Supergold Pipes Pvt Ltd.
Based on an FIR registered by the economic offences wing of the CBI, New Delhi, under various Sections of the IPC and the Prevention of Corruption Act, 1988, the ED had initiated a probe against M/s Supergold Pipes Pvt Ltd, its former directors — Parmod Gupta, Kailash Gupta, and A P Saxena, and unknown public officials of the erstwhile Oriental Bank of Commerce.
The ED investigation revealed that the accused individuals unlawfully siphoned off and diverted the funds obtained through a loan from the erstwhile Oriental Bank of Commerce and caused a wrongful loss to the tune of Rs 13.40 crore (approximately).
Out of this, the bank recovered an amount of Rs 5.19 crore (approximately) through selling the mortgaged properties.
The ED investigation further revealed that the loan was obtained by mortgaging land whose valuation was fraudulently inflated through the forgery of no objection certificates (NOCs) issued by the district town planner of Jhajjar.
It was also revealed that a portion of the loan, originally sanctioned for the purpose of expanding the business operations of M/s Supergold Pipes Pvt Ltd, was diverted by the company’s former directors Parmod Gupta and Kailash Gupta. A significant portion of the diverted loan amount was subsequently utilised for the acquisition of residential flats.
Further investigation in the case is in progress.
Source Homevior.in
